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Assets of community value

​Community right to bid

What is it?

The Community Right to Bid (Assets of Community Value in legislation) is one of a range of measures introduced in the Localism Act 2011 to make it easier for communities and individuals to get things done and achieve their ambitions for the place where they live. The other Community Rights are the Community Right to Build; Community Right to Challenge; and Neighbourhood Planning.

The Community Right to Bid allows local voluntary and community groups and parish councils to nominate publicly and privately owned buildings and land for listing by the local authority as assets of community value. An asset can be listed if its main use furthers (or has recently furthered) the social well-being or cultural, recreational or sporting interests of the local community and is likely to do so in the future. Examples could include community centres, libraries, parks, village shops, markets or pubs.

When a listed asset comes to be sold, a moratorium on the sale of up to six months may be invoked to enable community groups to raise finance, develop a business plan and make a bid to buy the asset on the open market. This will help communities to keep much-loved sites in public use and part of local life.

How do I nominate an asset of community value?

A decision on whether to list the asset will then be made within eight weeks of the receipt of the nomination. All decisions are recorded on the list of assets of community value. This includes all assets nominated, the status of the nomination (under consideration, accepted or rejected) and the reasons for the decision.